FTI Consulting (NYSE:FCN) Posts Quarterly Earnings Results, Misses Estimates By $0.21 EPS

FTI Consulting (NYSE:FCN) announced its earnings results on Thursday. The business services provider reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.21), Briefing.com reports. The business had revenue of $926.00 million for the quarter, compared to the consensus estimate of $946.16 million. FTI Consulting had a net margin of 8.90% and a return on equity of 16.34%. FTI Consulting’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.34 EPS. FTI Consulting updated its FY 2024 guidance to 7.900-8.350 EPS and its FY24 guidance to $7.90-$8.35 EPS.

FTI Consulting Stock Down 12.5 %

FCN traded down $28.58 during trading on Thursday, reaching $200.92. The stock had a trading volume of 253,755 shares, compared to its average volume of 168,200. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 23.27 and a beta of 0.10. The stock’s 50 day moving average is $224.60 and its two-hundred day moving average is $219.42. FTI Consulting has a one year low of $182.67 and a one year high of $243.60.

Analysts Set New Price Targets

Several research analysts have commented on FCN shares. Truist Financial upped their price objective on shares of FTI Consulting from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. StockNews.com raised shares of FTI Consulting from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th.

Insider Activity

In related news, Director Mark S. Bartlett sold 2,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $227.12, for a total value of $454,240.00. Following the completion of the transaction, the director now directly owns 26,099 shares in the company, valued at $5,927,604.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.51% of the company’s stock.

About FTI Consulting

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.